Iran’s crude oil exports are on track for a second monthly decline in November, expected to slip by 54 kbd to 1.43 Mbd according to Kpler.

• Iranian oil held in floating storage in Malaysia and Singapore waters - the most common area for STS transfers before being shipped to China  - currently stands at 4.7 Mbbls compared to a four-week moving average of 3.76 Mbbls Kpler said.
• The increase appears to be linked to increased U.S. sanctions as it added 23 tankers to its blacklist in October.
• Vessels Bendigo and Crystal Rose have been anchored for over a month. Shippers speaking to Kpler have said they are hearing of sanctioned vessels having issues moving cargoes but so far, flows to China remain firm overall.
• Large refining complexes, with their greater exposure to international financial and trading systems, are typically more sensitive to sanctions than their smaller counterparts.

Source: Kpler